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Gas Insulated Power Equipment Market By Industry Trend, Growth and Regional Forecast 2019-2025

Author : Rahul Sankrityayan | Published Date : 2019-08-26 

Gas Insulated Power Equipment market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.

The gas insulated power equipment market demand is expected to grow from USD 17 billion in 2018 to USD 30 billion by 2025, at a compound annual growth rate (CAGR) of 8% during the forecast period.

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The gas insulated power equipment market has significantly been influenced by government inclination toward the decrease in transmission losses, reliability of electricity grid infrastructure and enhanced transmission capacity. Efficient short-circuit endurance capability, minimal electrical ageing, non-flammable operational characteristics and low maintenance cost have escalated the business growth. Moreover, the manufacturers are constantly investing for R&D activities related to gas insulated transmission lines (GIL) for decrease in the environmental hazards and overall project cost.

Pages:  562

Tables: 1261

Charts / Figures:          10

Companies covered:   19

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

Mitsubishi Electric

 ABB

 Toshiba

 Larsen and Toubro

 Siemens AG

 Hyundai Electric & Energy System

 General Electric

 Schneider Electric

 BHEL

 Crompton Greaves

 Ormazabal

 Hitachi

 Fuji Electric

 Hyosung

 Iljin Electric

 AZZ

 Chint Group

 Meidensha Corporation

 and Xi'an XD Switchgear Electric

Gas Insulated Equipment Market in 2018 valued over USD 17 billion and is predicted to grow at a rate of over 8% by 2025. The industry in the recent years, has been positively influenced by the substantial increase in demand for compact substation devices to curb the overall project cost, maintenance and space requirements. Although, availability of a significant amount of traditional switchgear technologies including vacuum and air insulated products have constantly been posing obstruction to their incorporation across the industry. However, insistent efforts to reduce costs, manufacture compact product specifications and enhance operational performance have augmented the adoption of these units.

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Rapid growth of sustainable technologies including wind energy will fuel the demand for advance & competitive electrical netwrok over the years. Moreover, rising plant capacity to endure the soaring energy demand with conventional electrical network acquiring clearances and more space have increased the overall project price. Therefore, the adoption of GIS technology provides substantial scope for cost & space reduction in line with operational performance which in turn will stimulate the gas insulated power equipment market.

The gas insulated power equipment market has significantly been influenced by government inclination toward the decrease in transmission losses, reliability of electricity grid infrastructure and enhanced transmission capacity. Efficient short-circuit endurance capability, minimal electrical ageing, non-flammable operational characteristics and low maintenance cost have escalated the business growth. Moreover, the manufacturers are constantly investing for R&D activities related to gas insulated transmission lines (GIL) for decrease in the environmental hazards and overall project cost.

Asia Pacific will observe progress on account of the rising demand for electricity from developing countries. Emerging nations including India are considered as favorable regions as they continue to boost the traditional power network and capacities to meet the growing electricity demand. Shifting power consumption patterns in households and corporations positively influenced by government shift towards the adoption of effective grid network will strengthen the global gas insulated power equipment market share.

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Eminent gas insulated power equipment market participants include Toshiba, ABB, Siemens AG, Schneider Electric, Mitsubishi Electric, Hitachi, BHEL, Crompton Greaves, L&T, Ormazabal, AZZ, Meidensha Corporation, Hyundai Electric, Iljin Electric, Fuji Electric, Chint Group, Xi'an XD Switchgear Electric, General Electric and Hyosung.

Methodology:

At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc.  Primary objectives of data mining include:

  • Definition and scope of research
  • Market dynamics, growth drivers and industry pitfalls
  • Regulatory and political guidelines for the industry
  • Demographics and statistical data

All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:

  • Leadership figures such as CEOs, CSOs, VPs etc. in key companies
  • Supply-chain participants, distributors and domain experts
  • Key customers and B2B clients

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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